TL;DR
- Reports suggest Ronaldinho breached a $6M crypto agreement in favor of a $10M deal, allegedly pocketing two advance payments.
- Blockchain analysts detected potential insider trading linked to $STAR10, with suspicious wallet activities and massive token sales.
- A leaked email reveals Ronaldinho’s legal issues may have influenced his sudden withdrawal from the crypto promotion.
Brazilian football icon Ronaldinho is once again at the center of controversy, this time involving a cryptocurrency scandal linked to the token $STAR10. Reports indicate that he allegedly violated a $6 million crypto cooperation contract by securing a separate $10 million deal with another firm, collecting deposits from both.
According to blockchain analytics platforms Lookonchain and Onchain Lens, the launch of $STAR10 exhibited suspicious activity, with wallets tied to insiders rapidly accumulating and dumping large amounts of tokens. These findings raise concerns about a potential pump-and-dump scheme, where early investors manipulate prices before selling off for profit, leaving retail investors with massive losses.
In addition, allegations surfaced that Ronaldinho sold his Twitter account for $5 million to a Shenzhen-based company, which then used it to promote the token. This move reportedly aimed to boost investor confidence before orchestrating a rapid sell-off. Experts argue that such actions damage the credibility of the crypto market, fueling distrust among retail investors and regulators alike.
Leaked Email Suggests Legal Fears Led to Promotion Withdrawal
A leaked email dated February 10, 2025, suggests that Ronaldinho’s team backed out of the promotion due to ongoing legal battles from previous crypto endorsements. The message highlights their growing concerns regarding meme coin projects and the potential reputational risks involved.
This email also mentions a full refund for payments received, suggesting an attempt to disengage from the deal. However, reports claim that Ronaldinho had already received substantial advance payments from multiple sources before withdrawing. Some investors believe this could indicate a deliberate strategy to profit from promotional deals without long-term commitment.
Insider Trading? Blockchain Reports Expose Suspicious Trades
Further investigations into $STAR10 reveal a troubling pattern of transactions. Wallets identified by Lookonchain show that a single address acquired 122.45 million tokens using 80 BNB ($50,000) and later offloaded a portion for 433 BNB ($270,000), suggesting insider manipulation.
Despite the controversy, $STAR10 surged 85,000% within hours of its launch, leading to speculation about orchestrated price movements. Crypto enthusiasts urge caution, emphasizing the risks of celebrity-backed tokens and calling for greater transparency in the industry.
As of now, Ronaldinho has yet to address these allegations, while legal action from affected investors looms.
